Renewables fund raises £57m equity September 8, 2008 One of Europe’s largest green venture capital funds is to be raised by London-based WHEB Ventures, it will today be announced. Some of Britain’s most prominent business families, including Lord (Jacob) Rothschild of the banking dynasty and Simon Robertson, Rolls Royce chairman and former head of Goldman Sachs Europe, have already invested in the Cleantech [...]
Jon Moulton: why making money is my hobby as well as my profession September 5, 2008 The City’s most outspoken private equity chief talks to Katie Hope about the credit crunch At a time when most of the financial services sector is in despair over how bad the economic crisis is, Jon Moulton can barely contain his glee. He estimates the credit crunch will go on for “at least two years” [...]
Why equities have further to fall before they eventually recover September 5, 2008 Despite a strong August, investors must remain very cautious, warns Abigail Townsend For the City’s dwindling band of optimists, August was a surprisingly good month. After hefty falls for most of the summer, the FTSE 100 rallied from lows of below 5,100 in early July to close at 5,362 yesterday, a 5.14 per cent gain [...]
Boeing’s largest union votes to strike over pay and health benefits September 5, 2008 The largest union of American plane maker Boeing has rejected a new contract over pay and conditions, giving the management 48 hours to improve the deal or face a damaging strike. The International Association of Machinists and Aerospace Workers said in Seattle last night that 80 per cent of the voters opposed the contract and [...]
Co-founder of RAB stands aside as CEO September 5, 2008 Philp Richards, the co-founder of troubled hedge fund RAB Capital, is stepping down as chief executive to focus exclusively on its special situations fund. RAB shares have plunged 37 per cent in the last six months after being hit by a series of bad investments – including a significant shareholding in beleaguered Northern Rock– and [...]
Woes aid Whitbread September 5, 2008 Whitbread, Britain’s biggest hotel and restaurants operator, yesterday emerged as a rare winner in the consumer slowdown, revealing a boost in sales in the first half of this year. Whitbread’s Premier Inn budget hotel chain accounts for about 70 per cent of total profits. Premier Inn had total sales up 17.9 per cent and like-for-like [...]
Dispute ends as BP loses its man in Russia September 5, 2008 The Long-running dispute between BP and its Russian partners at joint venture TNK-BP drew to a close yesterday, after the two signed a deal which paves the way for floating up to 20 per cent of the company. But the embattled chief executive Bob Dudley, who was chosen by BP, will get the chop – [...]
Southern Cross chief stands down after property sell off September 5, 2008 Beleaguered health group Southern Cross yesterday announced that its chief executive Bill Colvin is standing down after it revealed it would have to sell yet more properties to pay off debt. The UK’s largest care home operator said that Colvin – who will not receive a pay out – will leave the board by “mutual [...]
Women must wait 73 years for job equality September 4, 2008 Representation of female bosses in the FTSE 100 has increased slightly – to 11 per cent – since last year, the newly launched “Sex and Power” report from the Human Rights Commission revealed yesterday. However, women will still be “waiting in the wings” for an estimated 73 years to achieve equal status to their male [...]
Age law takes centre stage September 3, 2008 Hiring and firing are key area for age discrimination cases, says Jeremy Hazlehurst Earlier this week, the television presenter Selina Scott filed a claim for age discrimination against Channel Five. Scott, who is 57, said that she had been signed up to read the news while Natasha Kaplinski is off on maternity leave, but is [...]
